Rogue Magazine Features How To Build a Small Business The Smart Way

How To Build a Small Business The Smart Way

Identify a teammate

More team members can bring a wealth of resources to the table, including contacts, funds, extra hands, and a sounding board for ideas. The total of the pieces may not always equal the whole. And don’t discount the role of small business grants.

For instance, after developing a method for electronically copying papers, Chester Carlson was unable to sell it to companies like GE, RCA, and IBM. Carlson eventually ran into Joe Wilson, who would go on to become his business partner. Wilson possessed the resources that the inventor Carlson lacked, including cash, connections, and commercial acumen. Wilson contributed to the dream and ultimately changed Carlson’s method and business name to Xerox.

Get free assistance

So you don’t want to hire full-time employees; what other options are there? Steer clear of assistance in the form of cryptocurrency until that financial chimera is more regulated and stable. 

A commission-based salesperson for hire? If the salesperson helps you build your business, it will not cost you anything. Recruiting interns? One entrepreneur hires undergraduate interns to operate his entire firm.

Recruiting a part-time employee? It’s always a good idea to take a calculated risk and start small, as in renting out the structure before you construct it. Here, you might want to think about hiring someone on a trial basis. Use them more if they aid in your development.

Employing a contractor on a freelance basis:

Once more, you only pay for the time you actually use; you don’t pay for any benefits. You might even organize it so that you only pay more or receive a bonus if extra extraordinary results are achieved. 

Obtain unpaid publicity

A TV or local newspaper piece about your company can have a significant impact with very little initial investment. 

Peter Hodgson created some goop and attempted to market it as a toy. Nobody bought it, that is until a New Yorker journalist discovered it and wrote an article about it. In the following few days, Hodgson got 250,000 orders for Silly Putty. 

More marketing and advertising

Running your own business is similar to being by yourself in a dark room; you are aware of your presence, but no one else is. Advertising and marketing are the only ways to make a difference and let people know you are there. You can use the additional support once the calls begin. 

Develop fresh recipes

All independent small business owners have a plan for success, including you. However, successful companies that expand develop new recipes. 

Using search as an example, Google might have stopped there, but it chose not to. Google became Google by developing more success formulas like Gmail, Google Maps, etc.

The main concept is to increase business first, then add staff, not the other way around. Working with people and organizations who have greater resources than the ones you now work with is one of the finest methods to expand your freelance business. 

Bill Gates’ sale of IBM’s new personal computer’s MS-DOS operating system was when Microsoft first took on its current name. The only issue was that that operating system wasn’t even under Microsoft’s control. Gates went out and purchased the system after receiving the contract. 

Having large clientele and contracts is valuable since it gives you the resources to expand.

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